Ft. Lauderdale Luxury Condos| Broward Luxury Condos Sold

Sales are continuing to increase in the Luxury segment of the Condo market. In my 6/26/10 post, I reported that 193 sales of Condos and Townhouses in Broward County have been recorded in the MLS* and Tax Records in 2010 from January 1, 2010 – May 31, 2010 in a purchase price range of $500,000 – $6,750,000.

Since then, during the months of June and July of 2010, sales of 66 Condos and Townhouses in the $500,000+ purchase price range have been recorded. Their purchase price range was $500,000 – $2,931,035.

54 of the 66 sales are indicated to have been Cash purchases, as is typical in the current market
18 of the purchases were $1,000,000 and over
60 of the 66 properties are Waterfront Properties
4 of the sales were Bank Owned Foreclosures and 9 were Short Sales (Short Sales and Foreclosures ARE NOT the majority of Luxury Property sales)
Of the Cities where the Condos are located, Ft. Lauderdale had the highest number of Sales, accounting for 35 of the 61 sales
Regarding Waterfront Condos, the Term “Luxury” is relative because prices vary significantly based on views from the Unit, low Floor vs. high Floor, quality of the Building, type of Waterfront location, and other factors, so it’s possible, in some cases, to pay a luxury price for a Unit that’s in need of complete updating and/or remodeling because the price reflected fabulous views, larger size, and/or other features that demand premium price

2009 vs. 2010 Sales

Sales have increased since 2009. Within the first 7 Months of 2009 (January 1st – July 31st), there were 187 Sales of Condos within the $500,000+ purchase price range compared to 246 sales within that price range during January – July of 2010.

Condos and Townhouses purchased for $1,000,000+:

Acqua Marina Residences Townhouses, Alhambra Place Condo, Harbourage Place Condo, L’Ambiance Condo, Las Olas River House Condo, L’Hermitage Condo, Ocean Palms Condo, The Palms Condo, and Trump Hollywood Condo.

Details about the $2,931,035.00 Condo that was purchased

Located in Harbourage Place Condo, a Ft. Lauderdale Intracoastal Condo that was built in 2000
Purchased on July 26, 2010 for $2,931,035
3 Bedrooms, 4.5 Baths
6,000 Square Feet of Living Area and 2,100 Square Feet of Terraces
2-Story Penthouse on the 22nd Floor with Ocean, River, Intracoastal, and City views
55′ Boat Slip accompanied the purchase
Monthly Maintenance Fee of $4,251

Ft. Lauderdale Properties Sold

45 Hendricks, Acqua Marina Residences, Alhambra Place, Castelane Lofts, Coconut Grove Residences, Coral Ridge Townhouse, Harbourage Place, Jackson Tower, L’Hermitage, Las Olas Grand, Las Olas River House, Oceanage, Palm Grove Townhouse, Place des Artes, Plaza East, L’Ambiance, Point of Americas, Hilton Resort, Sky Harbour East, Terraces of the Isles, The Palms, and Sapphire Condo.

Hillsboro Beach Properties Sold

Hillsboro Square and Ocean Grande

Deerfield Beach Properties Sold

1 Ocean Blvd.

Pompano Beach Properties Sold

Hillsboro Bay by the Sea

Lauderdale by the Sea Properties Sold

Aquazul, Cristelle, Europa by the Sea, Sea Ranch Club, Villas by the Sea, and Oriana by the Sea

Hollywood Properties Sold

Trump Hollywood (5 Units sold), Diplomat Oceanfront Residences, Ocean Palms, and Renaissance on the Ocean

Hallandale Properties Sold

Beach Club 1, 2, and 3

*- MLS = Multiple Listing Service (the central Database where Brokers input and store listing and purchase data for properties that they represent for property Owners)

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